Fast-moving consumer goods retailer Pick n Pay Stores has been approved for a secondary listing on A2X Markets and its shares will be available for trade on the exchange from November 1. The Pick n Pay Group, with a market cap of about R27-billion, will retain its primary listing on the JSE and its issued share capital will be unaffected by its secondary listing. The group is a grocery, general merchandise and clothing retailer with an omnichannel footprint, that operates under three banners - Pick n Pay, Pick n Pay QualiSave and Boxer. It also has a 49% shareholding in Zimbabwe-based TM Supermarkets.
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